GGRAsia – GEN Singapore says still awaiting Yokohama’s IR outcome

GEN Singapore says still awaiting Yokohama’s IR outcome

Aug 24, 2021 Newsdesk Japan, Latest News, Top of the deck

Genting Singapore Ltd, one of the qualified bidders in Yokohama’s request-for-proposal (RFP) process to host an integrated resort (IR), has told GGRAsia it is still awaiting the outcome of the contest.

The company is the operator of the Resorts World Sentosa casino resort in Singapore. The casino firm has linked with Japan-based entertainment and gaming conglomerate Sega Sammy Holdings Inc for the Yokohama project, with Japan-based Kajima Corp chosen as the construction partner.

The recent election of a mayor opposed to casinos has dimmed hopes for an IR in Yokohama (pictured), according to investment analysts. Opposition-backed Takeharu Yamanaka won the city’s mayoral election on Sunday, campaigning on an anti-IR agenda.

The Kyodo news agency quoted Mr Yamanaka as saying on Sunday evening: “We will issue a formal statement soon making it clear that Yokohama will not make a hosting bid” for an IR.

In an emailed reply to GGRAsia on Monday, following confirmation of Mr Yamanaka’s mayoral victory, a Genting Singapore spokesperson said: “The company has responded to the request-for-proposal and is awaiting the outcome.”

Yokohama concluded in June its RFP submission period. Aside from Genting Singapore, Melco Resorts and Entertainment Ltd, an operator of venues in Macau and the Philippines, has been identified as the other contender in the race. A decision on the winning proposal was expected to take place in the coming months.

GGRAsia approached Melco Resorts for comment following Mr Yamanaka’s election but had received no reply by the time this story went online.

Mr Yamanaka, 48, is described as a strong opponent of Japan’s IR policy, according to local media reports. He has suggested that the oceanfront property earmarked for a casino complex in Yokohama “would be better used to build hotels, concert halls and other facilities”.